Whitehorse Gold Corporation has closed the previously announced acquisition of the private Bolivian mining company which holds a 100% interest in the San Florencio Property located in the La Paz Department, Bolivia.
The San Florencio Property has been subjected to various degrees and scales of historic mining, and was explored and drilled by Rio Tinto in 1999.
The San Florencio Property has a silver & other mineral property, or Temporary Special Authorization in Bolivia. Key takeaways said about the terms of the updated agreement that Whitehorse Gold has paid US$1,100,000 for the initial drilling program to acquire a 100% interest in the SF Tin Company.
On the first anniversary of the agreement, Whitehorse Gold will pay a further US$1,000,000. On the second anniversary of the agreement, Whitehorse Gold will pay a further US$1,400,000. Further Whitehorse Gold will be issuable as part of this payment. A finder’s fee to an arm’s length finder of up to US$175,000 will be paid in this transaction.
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